New figures published by Germany show that for the first time in over 30 years, Germany is facing a monthly trade deficit. The trade balance has a deficit of EUR 1 billion in May due to a 0.5% drop in exports and a 2.7% increase in imports. This is largely explained by prices for food and energy imports, which rose by 30% in May compared to a year earlier. After exports from Germany to Russia fell by 60% in March, exports rose 29% in May from a month earlier.
The Reserve Bank of Australia has announced to raise the policy rate by 50 basis points to 1.35%. Currently, inflation is not as high in Australia as in other countries, but the country is currently dealing with floods which are affecting the economy. The bank expects inflation to peak later this year and then to drop to around 2% next year.
Great Britain has announced that as of today it will impose new economic and transportation sanctions on Belarus as a result of Belarus’ support for Russia. The sanctions will be an import and export ban of more than 73 million USD.
The 6M Euribor decreased with 2 basis points to 0.24% compared to previous business day. The 10Y Swap increased with 13 basis points to 2.20% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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